Aventail Capital Group LP Buys New Stake in Transocean Ltd. $RIG

Aventail Capital Group LP purchased a new stake in Transocean Ltd. (NYSE:RIG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,000,000 shares of the offshore drilling services provider’s stock, valued at approximately $3,120,000. Aventail Capital Group LP owned about 0.09% of Transocean as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. Jones Financial Companies Lllp boosted its stake in shares of Transocean by 9.0% in the third quarter. Jones Financial Companies Lllp now owns 35,604 shares of the offshore drilling services provider’s stock worth $114,000 after buying an additional 2,932 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in Transocean by 3.5% during the third quarter. J.W. Cole Advisors Inc. now owns 100,634 shares of the offshore drilling services provider’s stock worth $314,000 after acquiring an additional 3,367 shares during the period. Blume Capital Management Inc. raised its position in Transocean by 43.1% during the third quarter. Blume Capital Management Inc. now owns 15,110 shares of the offshore drilling services provider’s stock valued at $47,000 after acquiring an additional 4,550 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Transocean by 78.0% in the second quarter. SBI Securities Co. Ltd. now owns 10,729 shares of the offshore drilling services provider’s stock valued at $28,000 after acquiring an additional 4,700 shares during the period. Finally, Profund Advisors LLC lifted its holdings in Transocean by 4.0% in the third quarter. Profund Advisors LLC now owns 133,724 shares of the offshore drilling services provider’s stock valued at $417,000 after acquiring an additional 5,154 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Insider Transactions at Transocean

In related news, EVP Roderick James Mackenzie sold 78,370 shares of Transocean stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $6.36, for a total value of $498,433.20. Following the sale, the executive vice president directly owned 268,025 shares in the company, valued at approximately $1,704,639. The trade was a 22.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Keelan Adamson sold 58,687 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $5.00, for a total value of $293,435.00. Following the sale, the chief executive officer owned 1,222,182 shares of the company’s stock, valued at approximately $6,110,910. This trade represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 159,903 shares of company stock worth $906,098 over the last ninety days. 12.27% of the stock is currently owned by corporate insiders.

Transocean Price Performance

Transocean stock opened at $6.37 on Friday. The stock has a market capitalization of $7.02 billion, a P/E ratio of -2.02 and a beta of 1.40. The company’s fifty day moving average price is $5.43 and its 200 day moving average price is $4.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.27 and a current ratio of 1.56. Transocean Ltd. has a 1 year low of $1.97 and a 1 year high of $6.96.

Transocean (NYSE:RIG) last posted its quarterly earnings data on Thursday, February 19th. The offshore drilling services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.07). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Transocean had a positive return on equity of 0.41% and a negative net margin of 73.52%.The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.09) earnings per share. As a group, equities research analysts anticipate that Transocean Ltd. will post 0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of Transocean from $4.50 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. Barclays downgraded shares of Transocean from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $4.50 to $6.00 in a report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Transocean in a research report on Thursday, January 22nd. Citigroup lifted their price objective on shares of Transocean from $4.25 to $4.50 and gave the company a “neutral” rating in a report on Thursday, December 11th. Finally, Fearnley Fonds downgraded shares of Transocean from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $6.38.

Transocean Company Profile

Transocean Ltd. is a leading international provider of offshore contract drilling services for the oil and gas industry. The company specializes in the operation of mobile drilling units, including ultra-deepwater drillships, semisubmersible rigs and high-specification jackup rigs. Transocean’s fleet is designed to meet complex drilling requirements, from ultra-deepwater well construction to shelf exploration and development projects.

The company’s core services encompass the full spectrum of offshore drilling operations, including project and engineering management, marine operations, drilling supervision, and maintenance support.